Wise & Wealthy

Why is there a savings gap, and why is this a problem? We made it our quest to answer these questions, and thereafter try to tackle this problem in an efficient way.

We have discovered that:

1) Women are among the worst struck by the increasing income segregation, which is partially driven by the skewed distribution of capital income.

2) Women lack in financial confidence and are more risk-averse than men.

3) Existing educational material on savings and investments is dull and not appealing to women. This urges on the ‘stereotype threat’ around financial topics women experience.

So, why is this a problem? Firstly, women live longer than men and are therefore in a more urgent need for a sustainable savings strategy. Secondly, in today’s society, the financial risk has somewhat shifted from the state and employer to the individual, as we are increasingly in charge of influencing how we manage our pension and capital income. Therefore, being financially literate is more important than ever. So, how do we close the savings gap? By showing that anyone can invest in the stock market. We have done this by providing educational material that is easy to understand on platforms that attract women. In collaboration with several corporations, we have created a video podcast in which we discuss basic financial concepts together with female role models. By lowering the threshold to start saving and investing, we hope to help women invest in themselves and begin their journey to becoming financially independent!